Public Company Information:

NYSE:

JWA

NYSE:

JWB

"Revenue growth this quarter continued to be driven by the strength of our Research journals business, our 2014 acquisitions, and the continued double-digit growth of our Education solutions businesses, including Deltak Education Services and WileyPLUS Course Workflow Solutions"

HOBOKEN, N.J.--(BUSINESS WIRE)--John Wiley & Sons, Inc. (NYSE: JWa and JWb), a global provider of
knowledge and knowledge-enabled services that improve outcomes in
research, professional practice, and education, today announced the
following results for the third quarter of fiscal year 2015:

Change

$ millions

FY15

FY14

Excluding FX

Including FX

ADJUSTED

Revenue

Q3

$466

$458

5%

2%

9 Months

$1,381

$1,318

5%

5%

EPS

Q3

$0.99

$0.93

9%

6%

9 Months

$2.45

$2.28

8%

7%

US GAAP

Revenue

Q3

$466

$458

5%

2%

9 Months

$1,381

$1,318

5%

5%

EPS

Q3

$0.72

$0.88

(16%)

(18%)

9 Months

$2.18

$2.10

5%

4%

Please see the attached financial schedules for more detail

Management Commentary

“Revenue growth this quarter continued to be driven by the strength of
our Research journals business, our 2014 acquisitions, and the continued
double-digit growth of our Education solutions businesses, including
Deltak Education Services and WileyPLUS Course Workflow Solutions,” said
Mark Allin, Chief Operating Officer. “For the quarter, journal
subscriptions revenue increased 4% on a constant currency basis, while
Education Services (Deltak) secured eleven new online programs and
another university partner. Our profitability also improved, with higher
gross margins from digital products, cost savings from restructuring,
and lower income tax rates resulting in another quarter of solid
earnings growth for the Company.”

Fiscal Year 2015 Outlook

Wiley reaffirms its fiscal year 2015 outlook of mid-single-digit revenue
growth on a constant currency basis and adjusted EPS in a range of $3.25
to $3.35.

Foreign Exchange (FX)

Throughout this report, references are made to variances “excluding
foreign exchange” or “on a constant currency basis”; such amounts
exclude both currency translation effects and transactional gains and
losses.

Adjusted Results

The Company provides financial measures referred to as “adjusted”
revenue, contribution to profit, and EPS, which exclude restructuring
and impairment charges and deferred tax benefits related to a UK
corporate income tax rate reduction. Variances to adjusted revenue,
contribution to profit, and EPS are on a constant currency basis unless
otherwise noted. Management believes the exclusion of such items
provides additional information to facilitate the analysis of results.
These non-GAAP measures are not intended to replace the financial
results reported in accordance with GAAP.

Third Quarter and First Nine Months Summary

Third quarter revenue grew 5% on a constant currency basis, or
2% including the impact of foreign exchange, to $465.9 million. Growth
in Research Communication/Journals (+5%) and Education Services-Deltak
(+20%), as well as a five-month contribution from CrossKnowledge
(+$16.2 million) offset a decline in books sales overall. As
previously disclosed, financial results for the recently acquired
CrossKnowledge had been reported on a two-month delay pending
implementation of reporting process improvements. With these five
months reported, CrossKnowledge reporting is now current on a
year-to-date basis. Wiley revenue for the first nine months grew 5% on
a constant currency and reported basis to $1.38 billion.

Organic revenue was essentially flat for the third quarter on a
constant currency basis, but increased 1% for the nine months.
Organic revenue excludes the combined contribution from CrossKnowledge
and Profiles International of $22 million for the quarter and $49
million year-to-date.

Third quarter adjusted earnings per share (EPS) rose 9% on a
constant currency basis, or 6% including foreign exchange, to $0.99.
Adjusted EPS excludes certain one-time or unusual items in the
current and prior year periods as further described in the attached
reconciliation of US GAAP to Adjusted EPS. Adjusted EPS growth was due
to higher gross margins from digital products, restructuring savings,
and lower income tax rates, partially offset by investments in digital
products and services and internal business systems, as well as the
dilutive impact of the recent Talent Solutions acquisitions. Adjusted
EPS for the first nine months rose 8% to $2.45.

Third quarter adjusted shared services and administration costs
grew 4% on a constant currency basis, or 2% including foreign
exchange, to $121.4 million. Other Administration (+23%) and
Technology and Content Management (+3%) costs offset lower
Distribution and Operation Services (-13%) expenses. The increase in
Other Administration expenses reflects the expiration of a real estate
tax incentive related to the Company’s Hoboken headquarters, early
stage investment in an Enterprise Resource Planning (ERP)
implementation, and occupancy costs related to recent acquisitions.
Note that adjusted shared services costs exclude restructuring charges
principally related to the consolidation and disposition of real
estate assets. For the first nine months, adjusted shared services and
administrative costs, excluding the impact of currency, were up 1%
compared to the prior year period.

Free Cash Flow was $80.0 million for the first nine months of
the year compared to $84.6 million in the prior year period, mainly
due to increased investment in technology.

Share Repurchases: Wiley repurchased 350,000 shares in the
quarter at a cost of $20.4 million, or $58.42 per share. For the first
nine months, Wiley repurchased 1,083,000 shares at a cost of $62.0
million, or $57.26 per share. Approximately 2.2 million shares remain
in the current authorized program.

Management Update: On February 10, Wiley announced that
President and Chief Executive Officer Stephen M. Smith was diagnosed
with a recurrence of urological cancer and would be taking a period of
medical leave in order to focus on treatment. In the interim, Wiley’s
Executive Leadership Team will report to Mark Allin, the recently
named Chief Operating Officer (COO), and Mr. Allin will report to the
Executive Committee of the Board of Directors. Mr. Allin is a 14-year
Wiley veteran and until recently served as the Executive Vice
President of Professional Development. Prior to that, he was the
Managing Director of Wiley Asia.

Third Quarter Restructuring Charge: As anticipated, the Company
recorded a restructuring charge of approximately $24 million this
quarter, with about half of the charge related to the completion of
facility consolidations and dispositions in connection with prior
restructuring actions and the remainder principally due to severance
costs related to reorganization and consolidation.

RESEARCH

Revenue: Third quarter revenue of $246.5 million grew 3% on a
constant currency basis and declined 1% including the impact of FX.
Steady revenue growth continued in Journal Subscriptions (+4%), Funded
Access (+46%), and Other Journal Revenue (+7%). Books and References
revenue decreased 8% while Other Research Revenue grew 8%. For the
first nine months, Research revenue increased 2% on a constant
currency basis to $766.1 million.

Calendar Year 2015 Journal Subscriptions: Through January 31,
calendar year 2015 journal subscription billings increased 1% over the
prior year period on a constant currency basis with approximately 81%
of expected 2015 business closed.

Adjusted Contribution to Profit: Third quarter adjusted
contribution to profit after allocated shared service and
administrative costs of $72.5 million increased 11% on a constant
currency basis due to revenue growth and cost savings from procurement
and outsourcing initiatives. For the first nine months, adjusted
contribution to profit grew 7% to $220.9 million.

Society Business: Two new society journals were signed in the
quarter with combined annual revenue of $0.2 million; 24 were renewed
with combined annual revenue of $13 million; and three with combined
annual revenue of $0.6 million were not renewed.

PROFESSIONAL DEVELOPMENT

Revenue: Third quarter revenue grew 17% on a constant currency
basis (+15% including FX) to $108.6 million due to contribution from
2014 acquisitions, including three months of reported revenue
contribution from Profiles International (+$5.8 million) and five
months from CrossKnowledge (+$16.2 million) due to reporting
improvements enabling elimination of the two-month reporting delay.
Excluding the contributions from both acquisitions, revenue was down
7% from prior year as a decline in Book sales (-12%) exceeded growth
in Online Test Preparation and Certification (+14%) and other
Assessment revenue (+9%). Revenue for the first nine months increased
13% on a constant currency basis to $306.6 million, but declined 5%
excluding the contributions from acquisitions.

Adjusted Contribution to Profit: Third quarter adjusted
contribution to profit after allocated shared service and
administrative costs rose 8% to $12.9 million primarily due to
restructuring savings, partially offset by lower gross margins on
lower book volume and the dilutive impact of the recent Talent
Solutions acquisitions. Adjusted contribution to profit for the first
nine months increased 27% on a constant currency basis.

Online Learning and Training: CrossKnowledge announced an
agreement with Gavisus, a Scandinavian-based digital learning and
talent development company. CrossKnowledge will provide Gavisus with
the technology to plan, design and deliver online leadership training
to clients in Norway, Sweden and Denmark.

Revenue: Third quarter revenue on a constant currency basis
declined 2% (or 4% including FX) to $110.9 million, with a 14% decline
in Books more than offsetting growth in Custom Products (+6%), Course
Workflow Solutions (+13%), and Education Services-Deltak (+20%).
Revenue for the first nine months grew 4% on a constant currency basis
to $308.1 million.

Adjusted Contribution to Profit: Third quarter adjusted
contribution to profit after shared service and administrative costs
decreased 5% to $27.6 million, reflecting lower revenue and continued
investment in Education Services (Deltak). Adjusted contribution to
profit after shared services for the first nine months was down 1% to
$55.8 million.

Education Services (Deltak): In the quarter, Education Services
(Deltak) signed Manhattan College as a new online program partner and
added eleven new programs for a total of 38 partners and 192 programs
under contract (164 revenue-generating and 28 in development).

This release contains certain forward-looking statements concerning the
Company's operations, performance, and financial condition. Reliance
should not be placed on forward-looking statements, as actual results
may differ materially from those in any forward-looking statements. Any
such forward-looking statements are based upon a number of assumptions
and estimates that are inherently subject to uncertainties and
contingencies, many of which are beyond the control of the Company, and
are subject to change based on many important factors. Such factors
include, but are not limited to (i) the level of investment in new
technologies and products; (ii) subscriber renewal rates for the
Company's journals; (iii) the financial stability and liquidity of
journal subscription agents; (iv) the consolidation of book wholesalers
and retail accounts; (v) the market position and financial stability of
key online retailers; (vi) the seasonal nature of the Company's
educational business and the impact of the used book market; (vii)
worldwide economic and political conditions; (viii) the Company's
ability to protect its copyrights and other intellectual property
worldwide (ix) the ability of the Company to successfully integrate
acquired operations and realize expected opportunities and (x) other
factors detailed from time to time in the Company's filings with the
Securities and Exchange Commission. The Company undertakes no obligation
to update or revise any such forward-looking statements to reflect
subsequent events or circumstances.

About Wiley

Wiley is a global provider of knowledge and knowledge-enabled services
that improve outcomes in areas of research, professional practice, and
education. Through the Research segment, the Company provides
digital and print scientific, technical, medical, and scholarly
journals, reference works, books, database services, and advertising.
The Professional Development segment provides digital and print
books, online assessment and training services, and test prep and
certification. In Education, Wiley provides education solutions
including online program management services for higher education
institutions and course management tools for instructors and students,
as well as print and digital content.

JOHN WILEY & SONS, INC.

UNAUDITED SUMMARY OF OPERATIONS

FOR THE THIRD QUARTER AND NINE MONTHS ENDED

JANUARY 31, 2015 AND 2014

(in thousands, except per share amounts)

THIRD QUARTER ENDED JANUARY 31,

2015

2014

% Change

US GAAP

Adjustments (A)

Adjusted

US GAAP

Adjustments (A)

Adjusted

US GAAP

Adjusted excl. FX

Revenue

$

465,905

-

465,905

457,933

-

457,933

2

%

5

%

Costs and Expenses

Cost of Sales

124,245

-

124,245

130,563

-

130,563

-5

%

-2

%

Operating and Administrative

250,479

-

250,479

238,569

-

238,569

5

%

7

%

Restructuring Charges (A)

24,034

(24,034

)

-

4,256

(4,256

)

-

Amortization of Intangibles

13,105

-

13,105

11,165

-

11,165

17

%

19

%

Total Costs and Expenses

411,863

(24,034

)

387,829

384,553

(4,256

)

380,297

7

%

4

%

Operating Income

54,042

24,034

78,076

73,380

4,256

77,636

-26

%

6

%

Operating Margin

11.6

%

16.8

%

16.0

%

17.0

%

Interest Expense

(4,365

)

-

(4,365

)

(3,485

)

-

(3,485

)

25

%

25

%

Foreign Exchange Gain

2,783

-

2,783

29

-

29

Interest Income and Other

800

-

800

466

-

466

72

%

72

%

Income Before Taxes

53,260

24,034

77,294

70,390

4,256

74,646

-24

%

5

%

Provision for Income Taxes (A)

10,712

7,678

18,390

17,901

1,347

19,248

-40

%

-3

%

Net Income

$

42,548

16,356

58,904

52,489

2,909

55,398

-19

%

8

%

Earnings Per Share- Diluted (A)

$

0.72

0.28

0.99

0.88

0.05

0.93

-18

%

9

%

Average Shares - Diluted

59,343

59,343

59,343

59,713

59,713

59,713

NINE MONTHS ENDED JANUARY 31,

2015

2014

% Change

US GAAP

Adjustments (A)

Adjusted

US GAAP

Adjustments (A-C)

Adjusted

US GAAP

Adjusted excl. FX

Revenue

$

1,380,794

-

1,380,794

1,318,106

-

1,318,106

5

%

5

%

Costs and Expenses

Cost of Sales

382,839

-

382,839

380,706

-

380,706

1

%

0

%

Operating and Administrative

755,541

-

755,541

713,090

-

713,090

6

%

6

%

Restructuring Charges (A)

23,879

(23,879

)

-

27,327

(27,327

)

-

Impairment Charges (B)

-

-

-

4,786

(4,786

)

-

Amortization of Intangibles

38,859

-

38,859

33,066

-

33,066

18

%

16

%

Total Costs and Expenses

1,201,118

(23,879

)

1,177,239

1,158,975

(32,113

)

1,126,862

4

%

4

%

Operating Income

179,676

23,879

203,555

159,131

32,113

191,244

13

%

9

%

Operating Margin

13.0

%

14.7

%

12.1

%

14.5

%

Interest Expense

(13,015

)

-

(13,015

)

(10,348

)

-

(10,348

)

26

%

26

%

Foreign Exchange Gain

2,828

-

2,828

329

-

329

Interest Income and Other

2,218

-

2,218

2,095

-

2,095

6

%

6

%

Income Before Taxes

171,707

23,879

195,586

151,207

32,113

183,320

14

%

8

%

Provision for Income Taxes (A-C)

41,736

7,654

49,390

26,588

21,126

47,714

57

%

3

%

Net Income

$

129,971

16,225

146,196

124,619

10,987

135,606

4

%

9

%

Earnings Per Share- Diluted (A-C)

$

2.18

0.27

2.45

2.10

0.19

2.28

4

%

8

%

Average Shares - Diluted

59,632

59,632

59,632

59,388

59,388

59,388

See the accompanying Notes to Unaudited Financial Statements for a
description of each Adjustment.

JOHN WILEY & SONS, INC.

FOR THE THIRD QUARTER AND NINE MONTHS ENDED

JANUARY 31, 2015 AND 2014

RECONCILIATION OF US GAAP TO ADJUSTED EPS
- DILUTED (UNAUDITED)

Third Quarter Ended

Nine Months Ended

January 31,

January 31,

2015

2014

2015

2014

US GAAP Earnings Per Share - Diluted

$

0.72

$

0.88

$

2.18

$

2.10

Adjusted to exclude the following:

Restructuring Charges (A)

(0.28

)

(0.05

)

(0.27

)

(0.31

)

Impairment Charges (B)

-

-

-

(0.06

)

Deferred Income Tax Benefit on UK Rate Change (C)

-

-

-

0.18

Adjusted Earnings Per Share - Diluted

$

0.99

$

0.93

$

2.45

$

2.28

NOTES TO UNAUDITED FINANCIAL STATEMENTS

Adjustments:

(A)

RESTRUCTURING CHARGES: The adjusted results for the three and
nine months ended January 31, 2015 and the three and nine months
ended January 31, 2014 exclude restructuring charges related to the
Company's Restructuring and Reinvestment Program of $24.0 million or
$0.28 per share, $23.9 million or $0.27 per share, $4.3 million or
$0.05 per share, and $27.3 million or $0.31 per share, respectively.

(B)

IMPAIRMENT CHARGES: The adjusted results for the nine months
ended January 31, 2014 exclude impairment charges related to
certain technology investments of $4.8 million or $0.06 per share.

(C)

Deferred Income Tax Benefit on UK Rate Change: The adjusted
results for the nine months ended January 31, 2014 exclude deferred
tax benefits of $10.6 million, or $0.18 per share, associated with
tax legislation enacted in the United Kingdom that reduced the U.K.
corporate income tax rates by 3%. The benefits reflect the
remeasurement of the Company's deferred tax balances to the new
income tax rates of 21% effective April 1, 2014 and 20% effective
April 1, 2015 and had no current cash tax impact.

Non-GAAP Financial Measures:

In addition to providing financial results in accordance with GAAP,
the Company has provided adjusted financial results that exclude the
impact of other nonrecurring items described in more detail throughout
this press release. These non-GAAP financial measures are labeled as
"Adjusted" and are used for evaluating the results of operations for
internal purposes. These non-GAAP measures are not intended to replace
the presentation of financial results in accordance with GAAP. Rather,
the Company believes the exclusion of such items provides additional
information to investors to facilitate the comparison of past and
present operations. Unless otherwise noted, adjusted amounts in the
attached schedules include foreign exchange.

See the accompanying Notes to Unaudited Financial Statements for a
description of each Adjustment. Certain prior year amounts have been
reclassified to conform to the current year's presentation.

UNAUDITED ADJUSTED CONTRIBUTION TO PROFIT

INCLUDING ALLOCATED SHARED SERVICES AND ADMINISTRATIVE COSTS

FOR THE THIRD QUARTER AND NINE MONTHS ENDED

JANUARY 31, 2015 and 2014

(in thousands)

Third Quarter Ended

Nine Months Ended

January 31,

January 31,

2015

2014

% Change

% Change excl. FX

2015

2014

% Change

% Change excl. FX

Research:

Direct Contribution to Profit

108,727

111,318

-2

%

2

%

344,155

334,179

3

%

3

%

Restructuring (Credits) Charges (A)

4,507

(782

)

4,322

4,590

Adjusted Direct Contribution to Profit

113,234

110,536

2

%

7

%

348,477

338,769

3

%

3

%

Allocated Shared Services and Admin. Costs:

Distribution and Operation Services

(10,722

)

(11,406

)

-6

%

-2

%

(34,141

)

(34,801

)

-2

%

-2

%

Technology and Content Management

(24,254

)

(24,888

)

-3

%

0

%

(75,440

)

(75,969

)

-1

%

-1

%

Occupancy and Other

(5,752

)

(5,791

)

-1

%

3

%

(17,971

)

(18,763

)

-4

%

-5

%

Adjusted Contribution to Profit (after allocated

72,506

68,451

6

%

11

%

220,925

209,236

6

%

7

%

Shared Services and Admin. Costs)

Professional Development:

Direct Contribution to Profit

35,214

38,886

-9

%

-7

%

104,354

100,075

4

%

5

%

Restructuring (Credits) Charges (A)

3,588

(833

)

3,833

4,834

Adjusted Direct Contribution to Profit

38,802

38,053

2

%

4

%

108,187

104,909

3

%

4

%

Allocated Shared Services and Admin. Costs:

Distribution and Operation Services

(7,401

)

(9,634

)

-23

%

-20

%

(23,671

)

(28,790

)

-18

%

-18

%

Technology and Content Management

(12,550

)

(11,834

)

6

%

6

%

(35,347

)

(37,872

)

-7

%

-7

%

Occupancy and Other

(5,956

)

(4,139

)

44

%

44

%

(18,706

)

(13,900

)

35

%

35

%

Adjusted Contribution to Profit (after allocated

12,895

12,446

4

%

8

%

30,463

24,347

25

%

27

%

Shared Services and Admin. Costs)

Education:

Direct Contribution to Profit

46,415

48,411

-4

%

-2

%

114,721

113,041

1

%

3

%

Restructuring Charges (A)

1,033

117

1,084

375

Adjusted Direct Contribution to Profit

47,448

48,528

-2

%

0

%

115,805

113,416

2

%

4

%

Allocated Shared Services and Admin. Costs:

Distribution and Operation Services

(3,341

)

(4,098

)

-18

%

-16

%

(9,886

)

(11,987

)

-18

%

-17

%

Technology and Content Management

(12,815

)

(11,935

)

7

%

8

%

(39,630

)

(34,979

)

13

%

14

%

Occupancy and Other

(3,678

)

(2,527

)

46

%

46

%

(10,448

)

(8,573

)

22

%

23

%

Adjusted Contribution to Profit (after allocated

27,614

29,968

-8

%

-5

%

55,841

57,877

-4

%

-1

%

Shared Services and Admin. Costs)

Total Adjusted Contribution to Profit (after

113,015

110,865

2

%

6

%

307,229

291,460

5

%

7

%

allocated Shared Services and Admin. Costs)

Unallocated Shared Services and Admin.
Costs:

Unallocated Shared Services and Admin. Costs

(49,845

)

(38,983

)

28

%

29

%

(118,314

)

(122,530

)

-3

%

-4

%

Restructuring Charges (A)

14,906

5,754

14,640

17,528

Impairment Charges (B)

-

-

-

4,786

Adjusted Unallocated Shared Services and Admin. Costs

(34,939

)

(33,229

)

5

%

7

%

(103,674

)

(100,216

)

3

%

3

%

Adjusted Operating Income

78,076

77,636

1

%

6

%

203,555

191,244

6

%

9

%

See the accompanying Notes to Unaudited Financial Statements for a
description of each Adjustment. Certain prior year amounts have been
reclassified to conform to the current year's presentation.

JOHN WILEY & SONS, INC.

SEGMENT REVENUE by PRODUCT/SERVICE

FOR THE THIRD QUARTER AND NINE MONTHS ENDED

JANUARY 31, 2015 and 2014

(in thousands)

Third Quarter

Nine Months

Ended January 31,

% of

% Change

Ended January 31,

% of

% Change

2015

2014

Revenue

excl. FX

2015

2014

Revenue

excl. FX

RESEARCH

Research Communication:

Journal Subscriptions

$

153,755

154,035

62

%

4

%

$

490,893

478,374

64

%

2

%

Funded Access

6,066

4,347

2

%

46

%

16,562

11,538

2

%

43

%

Other Journal Revenue

27,833

27,393

11

%

7

%

90,720

76,487

12

%

19

%

187,654

185,775

76

%

5

%

598,175

566,399

78

%

5

%

Books and References:

Print Books

27,743

30,990

11

%

-8

%

80,658

89,483

11

%

-10

%

Digital Books

10,941

12,636

4

%

-9

%

30,154

31,588

4

%

-4

%

38,684

43,626

16

%

-8

%

110,812

121,071

14

%

-8

%

Other Research Revenue

20,116

19,396

8

%

8

%

57,162

60,062

7

%

-4

%

Total Revenue

$

246,454

248,797

100

%

3

%

$

766,149

747,532

100

%

2

%

PROFESSIONAL DEVELOPMENT

Knowledge Services:

Print Books

$

55,955

64,497

52

%

-11

%

$

164,567

180,599

54

%

-9

%

Digital Books

11,352

13,102

10

%

-13

%

36,316

38,739

12

%

-6

%

Online Test Preparation and Certification

4,030

3,545

4

%

14

%

12,517

10,666

4

%

17

%

Other Knowledge Service Revenue

8,164

6,573

8

%

26

%

20,479

19,203

7

%

7

%

79,501

87,717

73

%

-8

%

233,879

249,207

76

%

-6

%

Talent Solutions:

Assessment

12,891

6,484

12

%

99

%

41,200

21,625

13

%

91

%

Online Learning and Training (A)

16,195

-

15

%

31,502

10

%

29,086

6,484

27

%

349

%

72,702

21,625

24

%

236

%

Total Revenue

$

108,587

94,201

100

%

17

%

$

306,581

270,832

100

%

13

%

EDUCATION

Books:

Print Textbooks

$

40,473

54,389

36

%

-23

%

$

126,786

140,963

114

%

-9

%

Digital Books

11,042

7,962

10

%

41

%

25,196

21,522

23

%

18

%

51,515

62,351

46

%

-14

%

151,982

162,485

137

%

-5

%

Custom Products

13,625

12,892

12

%

6

%

49,560

43,966

45

%

13

%

Course Workflow Solutions (WileyPLUS)

20,841

18,575

19

%

13

%

40,552

35,587

37

%

15

%

Education Services (Deltak)

22,974

19,144

21

%

20

%

58,908

50,395

53

%

17

%

Other Education Revenue

1,909

1,973

2

%

-3

%

7,062

7,309

6

%

-3

%

Total Revenue

$

110,864

114,935

100

%

-2

%

$

308,064

299,742

278

%

4

%

Note: Segment Revenue Categorization

Wiley has modified its segment product revenue categories to reflect
recent changes to the business, including acquisitions and
restructuring. All prior periods have been revised to reflect the new
categorization.

(A) Quarter to date results include five months for the Company's
most recent acquisition, CrossKnowledge Group, Ltd, acquired in May
2014, which was previously reported on a two-month lag

Note: The Company’s management evaluates performance using free cash
flow. The Company believes free cash flow provides a meaningful and
comparable measure of performance. Since free cash flow is not a measure
calculated in accordance with GAAP, it should not be considered as a
substitute for other GAAP measures, including cash used for or provided
by operating activities, investing activities and financing activities,
as an indicator of performance.